MI HB6075

Expands summary annual reporting requirements for public employee retirement systems to include investment performance metrics, administrative expenditures, and detailed actuarial information.

Requires large sponsored systems to submit summary annual reports to the financial review commission and mandates detailed out-of-state travel reports listing traveler names, destinations, dates, purposes, and itemized costs.

Limits professional training and education expenses for system board members to the lesser of $150,000 annually or $12,000 per board member, with a $30,000 per-member annual cap, adjusted annually for inflation.

Requires investment service providers to disclose all fees, commissions, and compensation to system fiduciaries both before providing services and annually thereafter.

Mandates systems with less than 60% funded actuarial accrued liabilities for retiree health or pensions to post informational reports outlining steps to address unfunded liabilities.